Scrip Dividend Alternative

Guinness Peat Group PLC
18 May 2007

                             GUINNESS PEAT GROUP plc



                              COMPANY ANNOUNCEMENT



                           SCRIP DIVIDEND ALTERNATIVE




Guinness Peat Group plc ("GPG") announces that on Friday 18 May 2007 it allotted
8,818,240 Ordinary shares of 5p each ("Shares") in respect of its Scrip Dividend
Alternative to shareholders on the UK, Australian and New Zealand share
registers.  Following this allotment, GPG's issued Shares and consequent voting
rights total 1,156,052,566.



GPG has applied for admission of the Shares to the Official List of the UK
Listing Authority ("UKLA") and for admission to trading on the London Stock
Exchange's ("LSE") main market for listed securities.  Application has also been
made for quotation of the shares on the Australian Securities Exchange ("ASX")
in CDI form.  The Shares will be automatically tradable on the New Zealand Stock
Market ("NZSX") as from issue.  It is expected that listing of the Shares by the
UKLA and admission to trading on the LSE will take place on 21 May 2007.
Trading on the ASX and NZSX is also expected to commence on 21 May 2007.


Richard Russell
Company Secretary
Guinness Peat Group plc
Tel:  [phone]



18 May 2007




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